Jeff Kershaw, senior director at the Moscow office of CB Richard Ellis Group, is one of three real-estate advisers who have revealed they have held talks with the supermarket giant.
Kershaw has said Tesco is looking for ways to enter the Russian market, which is believed to worth some $191bn.
If Tesco was to enter Russian retail it would face competition from X5 Retail Group NV (Russia's largest supermarket owner), and German group Metro, as well as French retailer Carrefour.
Friday, March 28, 2008
Monday, March 24, 2008
Need for a real estate authors from Russia
Hi from Tam Tree , hope you like the Russian real estate news blog.
I need real estate authors from Russia to help me coverage the areas of Moscow and St Petersburg.
Please send email if you like to participated in this effort. Thanks !
tamtree@gmail.com
I need real estate authors from Russia to help me coverage the areas of Moscow and St Petersburg.
Please send email if you like to participated in this effort. Thanks !
tamtree@gmail.com
Saturday, March 22, 2008
Real estate perspectives for the region of Moscow in 2008
As the most fundamental obstacles for real estate in the Moscow region, Voronin identified bureaucracy and the physical scarcity of building materials. Although the production of materials is actively developing, he does not expect to see a breakthrough in the next five years.
As a recommendation to private real estate investors in the region, Voronin remarked that currently economy class residential space remains the most liquid with nevertheless a high potential for growth. However, he noted, "A more interesting idea is investment in "gated communities". According to Voronin, these communities carry with them a higher margin of profitability, but their attractiveness depends on the length of the desired commitment, as they are less liquid.
As a recommendation to private real estate investors in the region, Voronin remarked that currently economy class residential space remains the most liquid with nevertheless a high potential for growth. However, he noted, "A more interesting idea is investment in "gated communities". According to Voronin, these communities carry with them a higher margin of profitability, but their attractiveness depends on the length of the desired commitment, as they are less liquid.
Thursday, March 20, 2008
Moscow is ready to OK a new law limiting foreign investment in key sectors
The rules for foreign investors in Russia have often been murky. But a landmark new law due to be approved by Russia's parliament on Mar. 22 should at least make matters a little clearer. The Kremlin-backed statute will regulate investment in so-called strategic sectors of the Russian economy, meaning that foreigners will henceforth have to seek government approval if they plan to make significant investments.
The law represents the culmination of a trend in recent years toward greater economic restrictions in Russia. The government has noticeably cooled toward foreign investment in sectors deemed to be of strategic importance—notably the crucial energy and minerals segments.
The law represents the culmination of a trend in recent years toward greater economic restrictions in Russia. The government has noticeably cooled toward foreign investment in sectors deemed to be of strategic importance—notably the crucial energy and minerals segments.
Monday, March 17, 2008
Profitability of real estate market in Azerbaijan is 1.5-2 times higher as compared to Moscow
Azerbaijan's attractiveness for investments is mainly caused by growing GDP. Thus, Azerbaijan's GDP growth makes up 35% per year, as compared to Russia where GDP rises only by 7-8%.
Currently, large share of investments into the Azerbaijani real estate market is made by local companies and entrepreneurs, however Moscow investment companies have just paid a special attention to this market.
In particular, the National reserve corporation plans to build a business center in Baku to take about $200,000,000.
Currently, large share of investments into the Azerbaijani real estate market is made by local companies and entrepreneurs, however Moscow investment companies have just paid a special attention to this market.
In particular, the National reserve corporation plans to build a business center in Baku to take about $200,000,000.
Thursday, March 13, 2008
Property sell-off by Russian army
The Russian army is set to raise money by auctioning off some of the property it owns, according to reports in the Russian press.
Newspapers in Moscow say the auction will include mansions, unoccupied land, and even whole towns.
The purpose of the sell-off is to raise money to build much-needed modern housing for army officers.
No fewer than 122,400 military families are said to be waiting for self-contained accommodation.
Some have been on waiting lists for years.
Newspapers in Moscow say the auction will include mansions, unoccupied land, and even whole towns.
The purpose of the sell-off is to raise money to build much-needed modern housing for army officers.
No fewer than 122,400 military families are said to be waiting for self-contained accommodation.
Some have been on waiting lists for years.
Tuesday, March 11, 2008
Moscow: most promising property market in Europe
Moscow real estate beat Paris for the title of Europe's top market in terms of investment appeal and growth potential, according to a survey presented at the 19th edition of the MIPIM international real estate projects exhibition that opened in Cannes on March 11, investor.bg reported.
Rental market’s robust growth and rising supply of residential and retail space have turned the Russian capital into a tempting place for investment, offering a rich gamut of development opportunities, according to a study on the trends in European real estate, conducted by consultancy companies Urban Land Institute (ULI) and PricewaterhouseCoopers.
Rental market’s robust growth and rising supply of residential and retail space have turned the Russian capital into a tempting place for investment, offering a rich gamut of development opportunities, according to a study on the trends in European real estate, conducted by consultancy companies Urban Land Institute (ULI) and PricewaterhouseCoopers.
Saturday, March 8, 2008
Russian Shopping Centers Trade for $109M
MOSCOW-Finnish real estate investor Sponda has purchased two fully leased Russian shopping centers, with a total of 167,000 sf, for $109 million. The complex deal was a stock transaction with simultaneous closings in Sweden, Cyprus and Moscow.
The seller of the two “Sun Paradise” shopping centers was London & Regional Properties, one of the largest private property companies in Europe, based in London. They were represented by the Washington, DC-based law firm Orrick, Herrington & Sutcliffe.
“This was an investment sale between two large Western European private equity funds, which is an indication of the growing sophistication of the Russian real estate market,” Olga Sirodoeva, the Orrick lawyer who led the transaction, tells GlobeSt.com. “The Russian market is extremely active right now.”
The seller of the two “Sun Paradise” shopping centers was London & Regional Properties, one of the largest private property companies in Europe, based in London. They were represented by the Washington, DC-based law firm Orrick, Herrington & Sutcliffe.
“This was an investment sale between two large Western European private equity funds, which is an indication of the growing sophistication of the Russian real estate market,” Olga Sirodoeva, the Orrick lawyer who led the transaction, tells GlobeSt.com. “The Russian market is extremely active right now.”
Wednesday, March 5, 2008
Goldman Sachs Invests $2 Bill. in Russia real estate
The Goldman Sachs investment bank, which has real estate investment worth $23.7 billion worldwide, will begin investing in the Russian real estate market. The bank is in the process of forming a $4-billion fund for real estate investments in the BRIC countries (Brazil, Russia, India and China). Almost half of the money will go to Russia and, of that portion, two-thirds will be invested in Moscow and the remainder in St. Petersburg and other cities with populations over 1 million.
Saturday, March 1, 2008
American company invests $200-350 million in commercial real estate in Russia
Invesco Real Estate is going to invest about $200-350 million in Russian commercial property.
Central European Real Property Fund II, managed by Invesco, has attracted 700 million Euros of investments to put into real estate projects in Eastern Europe. $200-350 million from the attracted funds will go for construction of business buildings, warehouses and sales centres in Moscow and St. Petersburg.
The company is prepared to acquire several commercial real estate objects at the moment, but the representatives of Invesco Real Estate are determined to withhold names of the objects until the close of the transactions.
Central European Real Property Fund II, managed by Invesco, has attracted 700 million Euros of investments to put into real estate projects in Eastern Europe. $200-350 million from the attracted funds will go for construction of business buildings, warehouses and sales centres in Moscow and St. Petersburg.
The company is prepared to acquire several commercial real estate objects at the moment, but the representatives of Invesco Real Estate are determined to withhold names of the objects until the close of the transactions.
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